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Last Updated: 23/2/2009
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Date of Establishment: June 2006 by the government as a strategic move to curb the unemployment which is virtually a youth problem.
Budget allocated for 2008/2009: KSh.2.25 billion.
The Fund has so far allocated KSh.2 million to every constituency, irrespective of its size or population bringing the total to KShs. 420 million.
There are two ways to apply for the fund:
- Through the constituency using community committees at the divisional and district levels. The committees receive, vet and approve loan applications.
- Through Financial intermediaries where young people can access loans directly either as individuals or as organized entities. The Fund has enlisted 28 financial intermediaries spread across the country. Only three (3) commercial banks are involved in disbursement of the funds. The rest are Micro-Finance Institutions, Non-governmental Organizations, Community Based Organizations, Foundations and Cooperatives who have been chosen due to their ability to reach young people at the grassroots.
So far a total of Kshs 1.3 billion (including the Ksh.420 million disbursed to the 210 constituencies) to 45,215 youth enterprises across the country has been disbursed.
The money available is Kshs 950 million (Kshs 2.25 billion minus Kshs.1.3 billion).
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Office of Public Communications
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P.O.Box 45617-00100
Nairobi
Tel: +254-020-2240488
+254-020-2223521
Fax: +254-020-2240600
E-mail: comms@comms.go.ke
SMS (Zain/Safaricom): 2888
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